Skip to comments.U.S. Economic Confidence Plunges in October [Worst 1 month drop since 2008!]
Posted on 11/05/2013 8:49:24 AM PST by SoFloFreeper
Sixteen-point drop to -35 is sharpest in any month since Gallup Daily tracking began...
Americans' confidence in the U.S. economy sank for the month of October amid the partial U.S. government shutdown and partisan bickering over the federal debt limit.....
(Excerpt) Read more at gallup.com ...
Gallup, you really need to find more credible writers for your Obama Cult propaganda.
Looked her up, she’s based in DC.
If you visit DC or NoVa, the world is a beautiful place.
Life is good there.
Ted Cruz’s fault.
Absolutely "bubbly", if you get my drift.
And the denizens there are in denial about the eventual popping of that bubble.
I’ve sent several youngsters from here in the Midwest down to DC.
They start at jobs in low 6 figures.
They do complain about the cost of homes and the traffic.
But it a lot better than working at Target or Home Depot here.
OBAMACARE, the gift that will just keep on giving.
“CONSUMER CONFIDENCE DROPS RECORD AMOUNT DUE TO THE CONSERVATIVE REPUBLICANS BRINGING TO LIGHT THE ECONOMIC COLLAPSE OF AMERICA THAT LOOMS IN THE NEAR FUTURE”.
Obamacare is going to have a negative affect on Christmas sales.
Dallas/Fort Worth is an opportunity laden area. Homes are reasonable, and traffic has gotten better, though there's a few pockets where traffic jams up during rush hour.
It will flat-out kill them. Everyone getting a cancellation notice will have to budget in the increases to pay for Obama’s freeloaders.
Designed by Liberals.
One news item that has appears to be kept quiet might be the decrease in optional consumer spending even in N. Californicator land.
Starting about 2 weeks ago, my wife and a few friends have seen a decrease of customers where discretional income is spent:
For example: Medium $ to Upscale restaurants during lunch hours. Hair saloons, fingernail/toenail spas, coffee break time at the $4/cup places, and the upscale grocery stores.
Apparently, Halloween spending was trending down, and I have yet to see any articles noting that. However, a very reliable site was projecting a fair sized downward trend of spending:
Halloween Spending and Retail Buying Trends 2013 - 2005 - Sales Predictions
Halloween will not be a treat for U.S. retailers, according to the annual Halloween Spending Survey conducted by the National Retail Federation (NRF). In every way that consumers increased their Halloween spending in 2012, they intend to decrease it in 2013, according to the 2013 Halloween spending survey. If consumer spending actually matches consumer intentions, retailers will be ringing $1 billion less in sales in the month of October. It is worth noting that this survey was completed long before the U.S. government shutdown spooked consumers, so Halloween sales numbers will likely be even scarier when retailers are counting up their 2013 Halloween loot.
How about the negative impact re the reality of the real costs of ObozoscamScare.
Look at the pre Black Friday ads by major retail companies and their pushing of lay away plans. If they weren’t concerned, they wouldn’t be spending a ton of TV ad money on pre Black Friday ads and Christmas lay away plans.
She should read this:
Ludwig von Mises, SOCIALISM
This is the classic refutation.
For the Leftists “The Shutdown” has replaced “Bush”.
Consumer confidence is dropping like a rock.
| O S A M A - C A R E
Do you think not knowing what ObamaCare is going to cost (or do knowing what ObamaCare is going to cost) is going to drive Christmas spending down. Do you think Retail stores are going to think about this when they do their seasonal hiring?
This news is racist.
People found out in October that they are going to be without hundreds of dollars each month because Obamacare ain’t free. Even lotto sales will suffer.
Do you mean that recent college grads are starting at $100K+ for government jobs in DC?
I have almost all of his works. Human Action was another masterpiece. It convinced me that his intellect was equal to Einstein's. A true genius.
It was von Mises who opened Hayek's eyes to the Captialism.
A lot of other sales too. Folks who've just found out that that'll be paying $700/month for health insurance instead of the $350 a month they previously paid are far less likely to be shopping for a new set of wheels, taking expensive vacations, dining out three times a week, etc. Expect inventories at car dealerships to grow, occupancy rates at hotels to dip and restaurant sales as well and so on. All completely unexpected, of course. We'll be back in full-fledged recession by January or February 2014 (if indeed we ever left the last one). The only silver lining in this dark cloud: It may be enough to cause the scales to drop from the eyes of the LIV's who voted for the Moron-in-Chief and his Dem henchmen. Next November will be very ugly for the Dems.
With the abject failure of obamacare, maybe a majority now realizes that children are running the show. (We FReepers knew that since 2009.)
Doesn't this depend on the moxie of the "low information voters?"
Most of them are enjoying the bliss of Obama induced ignorance!!!
Next November will be very ugly for the Dems.
I agree if the Republicans don’t screw it up.
BTW, this Obamacare disaster might kill Immigration Reform.
“It’s Bush’s Fault”- Not this time.
Most of them are enjoying the bliss of Obama induced ignorance!!!
They’ve been dumbed down since way before Obama.
Obama was enjoying that ignorant bliss but this time he’s going to get bit on the azz.
This economy is literally a house of cards.
Not govt, govt contractors.
These aren’t chumps, they are Big 10 grads with Masters degrees.
I have most definitely cut back. I just found out I’m going to have to pay 957$ per month under ObamaCare.
I was planning a new car purchase this month, a fully loaded kia soul. Now thats out of the question.
And Obamacare is one big electric fan.
I suspect yes, just to what degree. Those knowingly effected by Obamacare (individual plans)will scale back. Of course that is a relatively small portion of the population. Over the next 4 weeks Employer based health plans will get released with the new rates, they certainly aren't going to be cheaper. So depending on that will determine how ugly Christmas spending will be.
“This economy is literally a house of cards”
Yep, the Fed is clueless and the Stock market at some point sooner than later will see a DOT Com / 2008 type correction. Of course the retail Investors will get hit the hardest, The Big Boys will survive if not get completely bailed out.
And BTW, you’re correct about the big boys...The little ones are going to get beat like a drum.
I am on Disabled Social Security and before I am called a freeloader let me say I was one of those pulling the cart for 50 years before I became disabled.
I have read and believe that obozo has pulled 750 billion from Medicare and Medicare Advantage and therefore I will be paying more for medical care and drugs. I have applied for jobs and am cutting back any expenses I can. So it also applies to me and I don’t like.
I am also raising more hell then a pet ape with my socalled reps and senators though I know it is doing no good.
May the people that did this burn in hell.
It pretty much is Bush’s fault. If he wouldn’t have been a complete moron, Obama wouldn’t have been elected.
Here in NJ many of those businesses saw business start to drop off with the financial meltdown in 2007/2008, and they haven’t recovered (many have closed). There are not enough people with discretionary dollars to keep restaurants, bars, etc. open; the only people better off than 5 years ago are the public employees that survived the layoffs we’ve had, and there simply aren’t enough of them.
Most Americans seem reduced to buying staples, and if they are buying anything else they’ll visit Craigslist before they go to the mall. Now our malls are reduced to cell phone kiosks and tattoo parlors...
“The only silver lining in this dark cloud: It may be enough to cause the scales to drop from the eyes of the LIV’s who voted for the Moron-in-Chief and his Dem henchmen. Next November will be very ugly for the Dems.”
We can only hope...
Life may be good there if you are the sort to fit in there. I would rather live in the backwoods myself.
“(if indeed we ever left the last one).”
We never really did, real life is often very different from official reports. It doesn’t even have to be intentional, I have seen managers reading internal reports in businesses and making decisions based on the “information” contained when in reality they knew less after reading the report than they did before reading it. I doubt that I have ever seen a report that contained as much reliable information as people imagined it contained.
If I had to pay that for insurance EATING would be out of the question.
Her and her ilk will be trying the same thing here shortly when the October jobs report comes out.
“Here in NJ many of those businesses saw business start to drop off with the financial meltdown in 2007/2008, and they havent recovered (many have closed). There are not enough people with discretionary dollars to keep restaurants, bars, etc. open; the only people better off than 5 years ago are the public employees that survived the layoffs weve had, and there simply arent enough of them.”
Here in wino country, we have still have blocks of small mom and pop stores that were closed due to the meltdown, now serving as free art galleries with no one wanting to open up a downtown store nor wanting to fight the liberals re what businesses they want to see versus a business that can stand on its feet due to real customers and their demand.
The melt down has had a paradox impact here. People will come up here to taste good wine and eat in 4 and 5 star restaurants and stay in plush hotels for a couple of nights, because they can’t afford the 1-3 week vacations/cruises they used to go on.
People with money from Texas, NY, Asia and Canada are buying homes or bidding on them paying cash for them. As a result many if not most of the property values here are higher than they were before the meltdown. Some of the new comers will be year round residents and many will be here during the good climate months.
These new cash home buyers are creating an economic boom re contractors, bath room/kitchen remodelers, new carpet/tile sellers and other redoing providers. Most good contractors and re doers are booked up for months. This has created a boom in refinancing for the banks, savings and loans and even the money lenders associated with Indian Casinos.
Re malls, many out here have become a place where dropouts and not the nicest teens hang out. Many cruise the parking lots looking for cars to break into. They wait until someone puts stuff in the trunks or vehicles and go back into the mall. Then, the undesirables break into the vehicles and loot them. You use a smart phone in the malls, their parking lots and other bay areas and act like an atm.
We haven’t been in a mall since the meldown. We are not alone, and that has created a market of new stores/chains moving into upgraded or new shopping centers. These shopping centers have parking lots patrolled by local cops and rent a cops.
As a result of the above, our city has a surplus of tax money versus expenses for the first year since the meltdown.
However, what we are recently seeing since the Obozo Care mess, is a definite lack of locals in the medium to good restaurants for lunch and shorter dinner hours due to fewer customers. Then, the zillion little so called beauty spas seem to really be hurting. Their business again depends on locals having disposable income..
So apparently even in an area where the melt down impact is basically gone, we may be seeing the beginning of a new meltdown from the negative financial impact of ObozoCare.
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